Why does 50% of India’s workforce remain in agriculture while the U.S. has just 2%?

Despite all those hands in the soil, the sector contributes just 15-18% to the GDP.

While countries like the U.S. and Europe shifted quickly from agriculture to industry, India's progress was pretty slow. So, is it too late for India to catch up and move on from agriculture?

Although India did build textile mills and steel plants, its industrialization lagged behind faster-growing Asian economies like Japan, South Korea, and China, which aggressively pursued manufacturing.

So, what happened?

Well, India’s focus remained on agriculture, missing the chance to build a strong industrial base that could absorb its large agricultural workforce. But there’s a new hurdle—manufacturing isn’t the job creator it once was.

Experts like Subhash Garg argue India may have missed the industrialization train. With automation reducing labour needs, ramping up manufacturing might not create enough jobs for India’s vast workforce.

In this episode of The Neon Show, Subhash Garg, former Secretary of Economic Affairs, shares his unique perspective on India's economic ambitions and the journey toward the $10 Trillion Dream.

Check out Subhash Garg's book, We Also Make Policy : An Insider's Account of How the Finance Ministry Functions, https://www.amazon.in/We-Also-Make-Policy-Functions/dp/9356994714

Timestamps
00:00 - Trailer
01:25 - Subhash Garg’s background in economic affairs
03:27 - Why has India's "10 Trillion Dollar Dream" dented
10:04 - India’s current GDP
12:50 - Need to shift labour from agriculture to high-value sectors
16:48 - Why India missed industrialisation
20:26 - The global manufacturing train left—and India missed it
21:55 - Why should you invest in services for real growth
26:55 - Sports, gaming, and entertainment are hidden gems for rural jobs
29:54 - Why is agriculture unreformed
31:34 - The impact of subsidies: is it a dead-end for farmers?
36:47 - Garg explains GDP with the “potato chip” example
42:42 - Why is farmers’ share of the final product small
47:10 - India’s manufacturing needs a tech boost
48:22 - Why India’s PLI schemes aren’t hitting their targets
52:58 - How India’s service sector thrived due to minimal regulation
1:01:57 - Garg’s positive take on brain drain
1:10:10 - Millionaires on the move
1:11:50 - Support for short sellers as market correctors
1:13:12 - Announcement of Garg's book, expected in October
-------------
Hi, I am your host Siddhartha! I have been an entrepreneur from 2012-2017 building two products AddoDoc and Babygogo. After selling my company to SHEROES, I and my partner Nansi decided to start up again. But we felt unequipped in our skillset in 2018 to build a large company. We had known 0-1 journeys from our startups but lacked the experience of building 1-10 journeys.

Hence was born The Neon Show (Earlier 100x Entrepreneur) to learn from founders and investors, the mindset to scale yourself and your company. This quest still keeps us excited even after 5 years and doing 200+ episodes.

We welcome you to our journey to understand what goes behind building a super successful company. Every episode is done with a very selfish motive, that I and Nansi should come out as a better entrepreneur and professional after absorbing the learnings.
-------------
Check us out on:
Website: https://neon.fund/
Instagram: https://www.instagram.com/theneonshoww/
LinkedIn: https://www.linkedin.com/company/beneon/
Twitter: https://x.com/TheNeonShoww

Connect with Siddhartha on:
LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/
Twitter: https://x.com/siddharthaa7
-------------

Send us a text

In India, financial security often seemed just out of reach, especially when it came to insurance. For many, insurance was complex, filled with hidden terms, and often mis-sold.

That’s exactly what happened when an engineer-turned-consultant discovered that his father had been duped by insurance agents into purchasing a policy that was both confusing and overpriced.

Instead of just shrugging it off, this experience sparked an idea: why not create a platform where people could get straightforward, honest information about insurance?

So in 2008, Yashish Dahiya, along with co-founders Alok Bansal and Avaneesh Nirjar, launched Policy Bazaar.

Today, Policy Bazaar has grown into India’s largest insurance aggregator, with an annual run rate of 100 million visitors.

In 2022, The platform accounted for 93% of online insurance sales in India, holding 25% of the country’s life insurance cover and 7% of retail health insurance cover.

In this episode of The Neon Show, Yashish Dahiya, co-founder and Chairman of Policy Bazaar, shares his journey of building India’s leading online insurance platform.

Drawing from personal experiences, including his family’s army background, Yashish explores the challenges of creating financial security for India’s middle class, when not taking risk is the biggest risk and the HUGE India opportunity.

Timestamps
00:00 - Trailer
01:18 - introducing Yashish Dahiya
02:18 - Policy Bazaar’s rise as India’s top online insurance platform
03:26 - India’s rising costs and financial aspirations
05:11 - Sanjeev Bikhchandani’s early investments in Policy Bazaar
06:43 - India’s economy as a mix of Bahrain, UK, Brazil, and Africa
07:49 - Financial inclusion across India’s diverse social structure
11:53 - Why does mass class movement happen
16:20 - Institutional strengths drive GDP
19:38 - Why Policy Bazaar outperformed its competitors
25:22 - Daily discipline and the importance of consistent execution
28:36 - How Yashish built team trust and values at Policy Bazaar
31:38 - Things changed when I got married
33:40 - Managing family life across India and the UK
36:36 - Why the value system is important
41:48 - What is stress exactly for an entrepreneur
46:18 - Sanjeev view on Policy Bazaar
49:40 - Policy Bazaar’s vision for social impact
53:58 - Consistent values pre-and post-IPO
57:33 - Why did Policy Bazaar go public
-------------
Hi, I am your host Siddhartha! I have been an entrepreneur from 2012-2017 building two products AddoDoc and Babygogo. After selling my company to SHEROES, I and my partner Nansi decided to start up again. But we felt unequipped in our skillset in 2018 to build a large company. We had known 0-1 journeys from our startups but lacked the experience of building 1-10 journeys.

Hence was born The Neon Show (Earlier 100x Entrepreneur) to learn from founders and investors, the mindset to scale yourself and your company. This quest still keeps us excited even after 5 years and doing 200+ episodes.

We welcome you to our journey to understand what goes behind building a super successful company. Every episode is done with a very selfish motive, that I and Nansi should come out as a better entrepreneur and professional after absorbing the learnings.
-------------
Check us out on:

Website: https://neon.fund/
Instagram: https://www.instagram.com/theneonshoww/
LinkedIn: https://www.linkedin.com/company/beneon/
Twitter: https://x.com/TheNeonShoww

Connect with Siddhartha on:
LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/
Twitter: https://x.com/siddharthaa7
-------------
This video is for informational purposes only. The views expressed are those of the in

Send us a text

Ever heard of the M Document?

Montek Singh Ahluwalia, an economist in govt of India, saw that India needed to make some big changes to keep up. So, he started working on what would become the M Document.

The M Document suggested bold reforms. Many government officials thought these ideas were too radical.

Then, something unexpected happened: the M Document got into the hands of journalist Ashok Desai, who saw its potential, and gave it the now-famous name, the M Document.

Even though the document was just meant for internal review, the leak sparked public debate on how India’s economy could be modernized.

Though it didn’t lead to immediate changes, the M Document planted seeds that grew in a few years.

In this episode of the NEON Show, Montek Singh Ahluwalia, a renowned economist and former Deputy Chairman of India's Planning Commission, shares insights from his pivotal role in shaping the 1991 economic reforms and reveals the behind-the-scenes story of the influential "M document" and how it ultimately shaped India’s approach to liberalisation.

Check out Montek Singh Ahluwalia’s book, BACKSTAGE: The Story behind India’s High Growth Years, https://www.amazon.in/BACKSTAGE-Story-behind-Indias-Growth-ebook/dp/B084P4Y3VW/

Time stamps

00:00 - Introduction to Mr. Montek Singh Ahluwalia
01:04 - Early life and family’s experience post-partition
05:11 - Winning the Rhodes Scholarship
06:14 - Early career at the World Bank
07:15 - Returning to India as an economic advisor
09:02 - Washington invitation and Planning Commission role
13:02- 1991 economic reforms
18:40 - Committees for economic reform
22:00 - High import controls as an economic issue
26:34 - Challenges in policy reform
28:38 - V.P. Singh asks Montek to write the document”?
31:36 - How did the “M document" leak
38:40 - Maruthi engine block story
48:35 - SEBI and financial system reforms
58:25 - Moving past the “Tonga mindset.”​
1:01:20- Why controlled imports are tax on exports
1:09:00 - How do exchange rates impact imports and exports?
1:12:04 - Discovery of Roman gold coins in South India
1:16:50 - Narayana Murthy’s import struggles
1:22:25 - Politicians should openly support beneficial policies
1:32:55 - Montek’s vision for India’s next decade
1:39:58 - Final thoughts on India’s future
-------------
Hi, I am your host Siddhartha! I have been an entrepreneur from 2012-2017 building two products AddoDoc and Babygogo. After selling my company to SHEROES, I and my partner Nansi decided to start up again. But we felt unequipped in our skillset in 2018 to build a large company. We had known 0-1 journeys from our startups but lacked the experience of building 1-10 journeys.

Hence was born The Neon Show (Earlier 100x Entrepreneur) to learn from founders and investors, the mindset to scale yourself and your company. This quest still keeps us excited even after 5 years and doing 200+ episodes.

We welcome you to our journey to understand what goes behind building a super successful company. Every episode is done with a very selfish motive, that I and Nansi should come out as a better entrepreneur and professional after absorbing the learnings.
-------------
Check us out on:

Website: https://neon.fund/
Instagram: https://www.instagram.com/theneonshoww/
LinkedIn: https://www.linkedin.com/company/beneon/
Twitter: https://x.com/TheNeonShoww

Connect with Siddhartha on:
LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/
Twitter: https://x.com/siddharthaa7
-------------
This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.

Send us a text